For the financial year ended 31 March 2023
STATEMENT OF PROFIT OR LOSS
31 March 2023 | 31 March 2022 | |
$ | $ | |
Income before grants and donations | ||
Income from leasing facilities | 2,258,945 | 1,195,095 |
Investment income | 1,139,862 | 1,056,155 |
Other income | 265,226 | 216,961 |
Total Operating Income | 3,664,033 | 2,468,211 |
Expenditure | ||
Projects and activities expenses | 6,922,594 | 6,320,714 |
Administrative expenses | 6,243,337 | 4,823,763 |
Rental expense | 4,419,169 | 4,480,903 |
Employee benefits | 3,924,267 | 3,666,403 |
Depreciation and amortisation | 2,039,125 | 2,132,846 |
Fair value loss in investment securities | 903,894 | 883,057 |
Total Operating Expenditure | 24,452,386 | 22,307,686 |
Net Operating Loss Before Grants And Donations |
(20,788,353) | (19,839,475) |
---|---|---|
Grants And Donations | ||
Government grants | 21,316,944 | 19,470,622 |
Donations | 2,152,270 | 1,748,551 |
Total grants and donations | 23,469,214 | 21,219,173 |
Net Income After Grants And Donations | 2,680,861 | 1,379,698 |
Statement of financial position
31 March 2023 | 31 March 2022 | |
$ | $ | |
Assets | ||
Intangible assets | 3,827,534 | 5,262,860 |
Property, plant & equipment | 1,603,030 | 1,232,416 |
Receivables | 685,889 | 697,795 |
Prepayments | 25,023 | 338,220 |
Investment securities | 25,100,063 | 25,902,111 |
Cash and cash equivalents | 24,933,611 | 24,143,194 |
Total Assets | 56,175,150 | 57,576,596 |
Funds and Liabilities | ||
Accumulated Operation Fund | 11,396,457 | 9,013,545 |
Accumulated Endowment Fund | 31,294,602 | 30,996,653 |
Deferred income | 10,322,085 | 15,024,987 |
Other liabilities | 3,162,006 | 2,541,411 |
Total Funds And Liabilities | 56,175,150 | 57,576,596 |
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reserves position
31 March 2023 | 31 March 2022 | |
Unrestricted funds (Reserve) | $11,396,457 | $9,103,545 |
Ratio of Reserves to Annual Operating Expenditure | 0.5 | 0.4 |
SCCC’S RESERVE POLICY
The reserves of the Company provide financial stability and means for the development of its operations and activities. The Board regularly reviews the level of reserves to ensure that they are adequate for fulfilling the company’s continuing obligations.
Please refer to HERE for the full financial report.
FUND RAISING
SCCC uses Giving.sg platform for online fund-raising. SCCC will undertake fundraising to support its operations and objectives, if required.